What is the status of the GTCR's acquisition of Surmodics?

The judge has denied the Federal Trade Commission's request to block GTCR's $627 million takeover of Surmodics, removing a key barrier to the deal.

What did the judge say about the proposed divestiture to address competition concerns?

The judge said the divestiture of part of Biocoat's business would address the competition concerns raised by the FTC, and the agency failed to factor in the competitive pressure from medtech companies' in-house coating capabilities.

Home / Business and Economy / Judge Denies FTC's Bid to Block $627M Surmodics Takeover

Judge Denies FTC's Bid to Block $627M Surmodics Takeover

Q: Why did the FTC challenge the GTCR-Surmodics deal?

The FTC argued that the acquisition would lead to a "highly concentrated market" for outsourced hydrophilic coatings and eliminate significant competition, as Surmodics and GTCR's Biocoat company together control over 50% of the market.

14 Nov, 2025

•

Summary

Judge rules against FTC's request to block GTCR's $627M acquisition of Surmodics
Surmodics CEO says ruling is a "significant step" toward completing the merger
FTC argued deal would lead to a "highly concentrated market" for medical device coatings

Judge Denies FTC's Bid to Block $627M Surmodics Takeover

On November 14, 2025, a judge denied the Federal Trade Commission's request to block GTCR's $627 million acquisition of Surmodics, a medical device coating and diagnostics company. This ruling removes a major obstacle to the deal, which the FTC had challenged in March 2025, arguing it would lead to a "highly concentrated market" for outsourced hydrophilic coatings and eliminate significant competition.